New master in Environmental Economics

Last Week, the Master Program Board (PMU) decided to recommend that NHH establish a new Master of Science (MSc) specialization in energy, natural resource and environmental economics. The specialization will be aimed at both Norwegian and International students.

12.11.2007 - Kristian T. Marthinsen (tekst og foto)

Leif K. Sandal is a member of the task force for NHH's new Master's profile in energy-, resource- and environmental economics.

The dean for the MSc program, Iver Bragelien, explained to Paraplyen that the recommendation to establish a new MSc specialization will be presented to the administration on October 25th.

"We are very positive, as it was a unanimous panel that supported the recommendation. However, it is the board that makes the final decision," explained Bragelien.

Looking to Norway
"This is an exciting field of study," said Professor Leif K. Sandal from the Institute of Corporate Finance. He has been a member of the task force that has had the responsibility of describing the profile's contents.

"If there is something that foreigners look to Norway for, then it is to learn about how we utilize our natural resources. We are seen as competent in regards to managing our oil resources in a way that benefits the entire society," he said. Norway also has an excellent reputation when it comes to the efficient use of resources in the marine environment. We are not even regarded as an environmental laggard.

A Popular Theme
The goal of the new specialization is to offer a new international MSc which lays a foundation for better decision making within corporations and society within these fields. Many of NHH's academic departments focus on exactly these themes, and the specialization contributes by collecting these themes from all the departments.

"The establishment of such an international education program fits well in relation to the business school's professional strategy," wrote the task force in their conclusion to the Master Program Board (PMU) at NHH.

All the teaching will be in English and many additional efforts are being made in order to attract and accommodate a large amount of international students. A summer school in Natural Resource Management was held in English at NHH this year, and it received a large turnout with positive evaluations from students.

A Great Need for Knowledge
It is not just NHH and its' students who will benefit highly from such an MSc program.

According to Professor Sandal, there will be a great need for competent candidates in the entire oil sector.

"It has been nearly 40 years since Norway's oil age began and a large employment transition will occur in the years to come," he predicts.

Sandal and the rest of the task force hope to make a study program that gives students insight into long-term resource management.

"We will give broad insight and an understanding of the market to future decision makers," he said.

In order to achieve all of this, the people responsible for the course must attract competent people from the industry. This will be done by giving the students internships in different fields of work, as well as using employees in the oil-, energy- and fishing industry as lecturers.

"Having internships give us two advantages. First, both the department staff and students at NHH will gain contact with the industry. Second, we will be able to receive superior feedback on what the industry is concerned with, which is very important for NHH," said Sandal who imagines that this program will help connect the business school closer to the industry.

A Collaborative Program
In the first period, four out of five academic departments from NHH will contribute professional competence to the new MSc specialization. This way, the knowledge will be better integrated and the people with academic responsibility can work together and share information. Sandal also predicts that the fifth academic department will contribute more as the program develops.

If everything goes according to plan, the program will commence in autumn of 2008.

In the coming months, the task force will use time to think carefully about which national and international target groups they should market the program towards. Thus far, they aim to use similar channels as the MiB-program. But Sandal stresses that it isn't only international students who can benefit from such an MSc specialization.

"It should absolutely be attractive to Norwegian students as well. There will be a need for competent people in the entire oil sector, and we're not just talking about technical personnel," said Leif K. Sandal.


Translated by Nancy Cavanaugh